AT&T Inc. (NYSE:T) Shares Bought by Bank of The West

Bank of The West boosted its holdings in shares of AT&T Inc. (NYSE:T) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,085 shares of the technology company’s stock after purchasing an additional 8,684 shares during the quarter. Bank of The West’s holdings in AT&T were worth $2,477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. OLD Mission Capital LLC acquired a new stake in shares of AT&T in the third quarter valued at about $453,000. Camden National Bank purchased a new position in AT&T in the 4th quarter valued at about $278,000. Quantitative Systematic Strategies LLC acquired a new stake in AT&T in the 1st quarter worth about $457,000. Meridian Wealth Advisors LLC increased its stake in AT&T by 39.8% during the 1st quarter. Meridian Wealth Advisors LLC now owns 15,968 shares of the technology company’s stock worth $483,000 after buying an additional 4,547 shares in the last quarter. Finally, Davidson Investment Advisors purchased a new stake in AT&T during the 1st quarter worth approximately $214,000. 51.61% of the stock is currently owned by institutional investors.

NYSE T opened at $27.21 on Tuesday. The stock has a market cap of $194.28 billion, a PE ratio of -87.77, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.87. AT&T Inc. has a twelve month low of $26.35 and a twelve month high of $33.88. The stock has a fifty day simple moving average of $27.78 and a 200-day simple moving average of $29.21.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.10. The company had revenue of $44.05 billion during the quarter, compared to analyst estimates of $42.39 billion. AT&T had a negative net margin of 1.11% and a positive return on equity of 12.78%. AT&T’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. Research analysts predict that AT&T Inc. will post 3.33 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, July 8th. This represents a $2.08 annualized dividend and a yield of 7.64%. AT&T’s dividend payout ratio (DPR) is presently 65.41%.

A number of analysts have recently issued reports on the company. Loop Capital initiated coverage on AT&T in a research note on Monday. They issued a “hold” rating and a $30.00 price target on the stock. Tigress Financial reaffirmed a “buy” rating and set a $36.00 target price on shares of AT&T in a research note on Friday, July 9th. Scotiabank upgraded shares of AT&T from a “sector underperform” rating to a “sector perform” rating and increased their target price for the company from $28.00 to $31.00 in a research report on Wednesday, June 16th. Argus lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $28.09 price target on the stock. in a research report on Tuesday, July 27th. Finally, Citigroup cut their price objective on shares of AT&T from $34.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, August 31st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.10.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

Further Reading: When can a hold rating present a buying opportunity?

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

Institutional Ownership by Quarter for AT&T (NYSE:T)

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.